Early Retirement Distributions

March 29, 2015 Some people take an early withdrawal from their IRA or retirement plan. Doing so in many cases triggers an added tax on top of the income tax you may have to pay. Here are some key points you should know about taking an early distribution: 1.Early Withdrawals.  An early withdrawal normally means […]

How to Determine if the Net Investment Income Tax Applies to You

February 26, 2015 If you have income from investments, you may be subject to the Net Investment Income Tax. You may owe this tax if you receive investment income and your income for the year is more than certain limits. Here are some key tips you should know about this tax: • Net Investment Income Tax.  […]

CMS Announces Special Enrollment Period for Tax Season

Date 2015-02-20 Title CMS Announces Special Enrollment Period for Tax Season For Immediate Release Friday, February 20, 2015 Contact CMS Announces Special Enrollment Period for Tax Season Eligible consumers have from March 15 through April 30 to enroll in coverage The Centers for Medicare & Medicaid Services (CMS) announced today a special enrollment period […]

Open enrollment for ACA health plans extended thru April 30

February 21, 2015 We have not received an official announcement about the affordable care act open enrollment period extension but it is being widely reported in the media. Apparently some of you have been living under a very large rock and somehow had no idea that you had any obligation to go out and get […]

Open enrollment for ACA health plans ends Sunday

Sunday is the last day to enroll in a health insurance plan for 2015. If you miss that deadline, you may not be able to get coverage until 2016. And while you may not get sick in 2015, if you don’t have health insurance, you will pay a hefty penalty when you file your federal […]

Didn’t receive your W-2s, now what?

In most cases you get your W-2 forms by the end of January. Form W-2, Wage and Tax Statement, shows your income and the taxes withheld from your pay for the year. You need your W-2 form to file an accurate tax return. If you haven’t received your form by mid-February, here’s what you should […]

IRS Launches Directory of Federal Tax Return Preparers

February 5, 2015 WASHINGTON—The Internal Revenue Service today announced the launch of a new, online public directory of tax return preparers. This searchable directory on will help taxpayers find a tax professional with credentials and select qualifications to help them prepare their tax returns. “This new directory will be a practical tool for the […]

Taxpayers Use New Information Form to claim Premium Tax Credit

The Affordable Care Act is bringing several changes to the tax filing season this year, including a new form some taxpayers will receive. If you or anyone in your household enrolled in a health plan through the Health Insurance Marketplace in 2014, you’ll get Form 1095-A, Health Insurance Marketplace Statement. You will receive Form 1095-A […]

Social Security makes tax reporting forms available online

A new online service is available to help people who receive Social Security benefits have the information they need to file their tax returns. If you didn’t receive or misplaced your SSA-1099 or SSA-1042S, you can now use an online my Social Security account to get an instant replacement for tax purposes. Setting up an […]

The Health Care Law’s Effect on You

January 29, 2015 Nearly everyone is affected by the Affordable Care Act and will need to do something new when filing their taxes this year. The following chart will help you better understand how the health care law affects you and everyone on your return. This chart is also available on To help navigate […]